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Stock Market & Financial Investment News

News For SXL From The Last 14 Days
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July 30, 2015
17:07 EDTSXLPhillips 66, Energy Transfer Partners, Sunoco Logistics form JV
Phillips 66 ( PSX), Energy Transfer Partners (ETP) and Sunoco Logistics Partners (SXL) announced that they have formed a joint venture to construct the Bayou Bridge pipeline that will deliver crude oil from the Phillips 66 and Sunoco Logistics terminals in Nederland, Texas, to Lake Charles, Louisiana. The joint venture will also launch an expansion open season for service to the market hub in St. James, Louisiana. Phillips 66 holds a 40% interest in the joint venture and Energy Transfer and Sunoco Logistics each hold a 30% interest. Sunoco Logistics will be the operator of the system. Construction is underway on the Nederland to Lake Charles segment of the pipeline, which will be 30-inch diameter and is expected to begin commercial operations in Q1 of 2016. The companies will also launch a binding expansion open season to assess additional shipper interest for service with connectivity to existing terminal infrastructure and refineries in and around the St. James area. The results of the expansion open season will be used to determine the size of the pipeline to St. James, which has a forecasted in-service date of the second half of 2017. The binding expansion open season will commence in Q3 of 2015. Bona fide potential shippers that would like to receive copies of the expansion open season documents, the throughput and deficiency agreement, and proposed tariffs must first sign a confidentiality agreement.
July 23, 2015
16:33 EDTSXLEnergy Transfer Equity raises quarterly dividend to 53c per unit
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08:36 EDTSXLSunoco Logistics announces quarterly distribution increase to 43.8c per share
Sunoco Logistics Partners L.P. announced that Sunoco Partners LLC, its general partner, has declared a cash distribution for the second quarter 2015 of 43.8c per common unit to be paid on August 14, 2015 to unit holders of record on August 10, 2015. This represents a 5 percent increase over the first quarter 2015 cash distribution of 41.9c per common unit and a 20 percent increase over the second quarter 2014 cash distribution of 36.5c per common unit. This is the forty-first successive quarter the Partnership has increased its distribution.

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